PSX pushes yesterday’s rally into today; up over 800 points

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a strong rally on Thursday, driven by encouraging macroeconomic signals.

The benchmark KSE-100 index soared by nearly 1,500 points during the trading day. Analysts attribute this primarily to the news of a current account surplus of $75 million for August 2024.

FBR proposes rules for Active Taxpayer list

This positive development was reinforced by a notable rise in net foreign direct investment, which climbed to $214 million in August, up from $136 million in July, news reports said.

However, mid-day profit-taking caused the index to dip to an intra-day low of 80,680.24 points. Despite the fluctuations, the KSE-100 closed at 81,459.29, gaining 997.95 points, or 1.24 per cent.

On Friday, the PSX continued its positive momentum, jumping over 800 points, hovering around 82,294.27 before noon.